Suppose you long a 1-year call option with an exercise price of K, and short a 1-year put option with an exercise price of K. What derivative position is equivalent to your transactions? Please show their payoffs in your proof. Suppose you long a 1-year call option with an exercise price of K, and short a 1-year put option with an exercise price of K. What derivative position is equivalent to your transactions? Please show their payoffs in your proof